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The new company, known as 'OneSource', will have more than 1,200 employees and is expected to deliver revenue worth between $180 million-$200 million in fiscal 2025
The announcement was made by the company ahead of the market closing. The stock settled at Rs 536 on the NSE, up Rs 37, or 7% over Friday's closing price. Strides Pharma Science shares also hit their 52-week high of Rs 539.
The company has 260 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with the USFDA, of which 230+ ANDAs have been approved. The company is eyeing around 60 new product launches over the next three years in the US.
The stocks of the company were trading over 9.50 per cent higher at Rs 513 per share, as of 11:23 am, on BSE.
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